Bitcoin Breaking Out of a 220-Day Broadening Wedge
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BTCUSDT technical analysis update
Bitcoin has been forming a broadening wedge pattern over the past 220 days, indicating increased volatility and indecision near its previous all-time highs. Recently, BTC has been moving towards the wedge’s upper resistance line around 68K, signaling a potential bullish breakout. If confirmed, this breakout could lead to a strong upward move, with targets in the 90K-100K range. Additionally, around 60K, the 100 and 200 EMAs are acting as strong support levels for BTC.
Regards
Hexa
Bitcoin has been forming a broadening wedge pattern over the past 220 days, indicating increased volatility and indecision near its previous all-time highs. Recently, BTC has been moving towards the wedge’s upper resistance line around 68K, signaling a potential bullish breakout. If confirmed, this breakout could lead to a strong upward move, with targets in the 90K-100K range. Additionally, around 60K, the 100 and 200 EMAs are acting as strong support levels for BTC.
Regards
Hexa
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